Word: wages
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Dates: during 1930-1939
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Brothers, Last week Iron Age, whose subscribers are hard hit by the stoppage of railroad buying, said: "It is believed the railroads must follow whether they obtain partial relief through rate advances or not." The railroad Brotherhoods stoutly, even bitterly retorted that rail wages must stay up. It is in these Brotherhoods that U. S. Labor has established its strongest citadel and it is here that the wage-fight will reach its crisis. Although a 10% wage reduction would benefit the carriers as much as a blanket 15% rate increase, there have been no cuts except among salaried workers. Rail...
...British Admiralty pondered how to prevent another gassing of the fleet, another explosion of Jack Tar's touchy sense of fair play. Hardboiled, their Lordships reduced the greatest mutiny in 134 years to terms of money. They announced that Jack Tar will not have to take the 25% wage cut he mutinously refused; but he must take, added the Lords of Admiralty...
...States Rubber adopted a five-day week as its normal schedule -first step of its kind to be taken by a big U. S. corporation. U. S. Rubber salaries were reduced 1/11 in adjustment to the new schedule. Aluminum Co. of America, controlled by the Mellons, announced a 10% wage...
...many a voice was heard condemning the move, hoping it would be halted. Mr. Gifford did not elaborate his reasons for opposing, and special factors may prejudice Mr. Gifford's case (he is National Relief Director; American Telephone & Telegraph was earning its dividend; A. T. & T.'s wages are indirectly fixed by public service commissions; political goodwill is essential to A. T. & T.). But the prime argument against wage reduction is that it lowers the purchasing power of the people, may be a boomerang to business...
...plants, to purchase and move raw materials. Un less working capital were kept up there would be the need of further borrowing which would be a burden on future operations. When the turn comes, any company, unable to borrow at once, would find its competitive position weakened. Thus, while wage-cutting seems on the surface merely to decrease Steel's employes' earning power, its real reason is to safeguard ultimate earning power...